You need to have the equivilent ACR version in LR4.x to match up with ACR 7.x (which isna't actually yet available)...If you are using a Photoshop version prior to CS6, you are behind...you can Render using Lightroom on the dlog Edit in Photoshop, but ot comes at a price.

Based on the ACR 4.6, I presume you are using Photoshop CS4? If so, that is pretty far behind the current raw processing workflow...you might want to consider moving foreward (at least ACR 6.7 in CS5/5.5). Eventually, CS6 and ACR 7.x. Otherwise you'll be behind the curve.

No, I'm using cs5, I've upgraded it to 6.7, but I can't get lr4 to convert. How do I get it and make the change?

So, there's a BIG difference between ACR 4.6 and ACR 6.7 RC...which are you using? If you are openg from LR4 to PS CS5, which option are you selecting when you get the warning about ACR 7? If you have ACR 6.7 correctly installed in PS CS5/5.5 the Open Anyway is ok...if you DON'T have ACR 6.7 correctly installed, you'll need to select Render using Lihtroom.

You haven't exlained EXACTLY how you are opening images from LR4 to PS CS5/5.5.

In the develop module calibration panel you can select a profile that is specific to the camera model file that is selected. The list of profiles as shown in post #5 in this thread are the profiles that are specific to the camera. The one that says ACR 4.6 is the first profile that was created for the camera and reflects the ACR version of Camera Raw that was current at the time support for the particular camera was first introduced. Since that time profile names were not called after ACR, so the later updated profiles are "Adobe Standard" the standard profile for your camera the ones called "Camera xxxx" are profiles created to try and emulate the verious setting from your camera.

You can make your choice from this list.

As an example I have an older Oly model the E 20n and I have, ACR 2.4: ACR 4.4; ACR 4.6 and Adobe Standard. The latest profile is the Adobe Standard.

Lightroom 4 has the latest version of the ACR engine builtin and does not need updating, when updates are available you will get a new full Lightroom install package.

In your original post you indicated that you were "running ACR 4.6 in Lightroom 4." You are not doing that because Lightroom does not use ACR. And that was the basis for my response. If you are using Lightroom 4 then you have the latest update. There is a 4.1 release candidate, but I don't know if the underlying raw technology has changed or not.

Thanks for your help, but in the calibration panel it does say ACR 4.6 for a profile.

Those are DNG profiles...if your camera is listed ACR 4.6, that simply means that was the version of ACR that first supported your camera. There are times where the DNG profile may be revised to improve color, in that event you would see two ACR versions, perhaps a 4.6 and a 5.4 as an example...

But, there is NOTHING you can do to change that yourself...YOU can't update the internal profiles that ship with Lightroom. You can create other profiles using the free DBG Profile Editor on Adobe Labs.

The other listed profiles for your cameras are either Adobe Standard or vender matching profiles which will vary camera by camera.

Bottom line here is that unless you make your own custom DNG profiles, there's nothing you can do to alter or upgrade that list of camera profiles. So, forget about it...